Quote:
Originally Posted by Internet Guy
Honest advice: If you made any money, take it and run, never invest in another penny stock again. You were lucky, don't confuse that for skill. There is no skill in this casino, only punters and house. You are punter. It will vaporize as quickly as it came.
Of course, nobody ever does that. It usually takes losing most/all of your capital..
And yes, i am speaking from experience ;)
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IB told me they allow pennies now as a "value adding service" but they don't encourage it.. definitely looks like the best pricing, though!! I can't make their minimum though. . MBTrading looks like my best option for now. . But they still charge $9
I'm looking to learn to take advantage of promotions.. get in and back out.. I've successfully done so twice now but I don't hold myself out as being any kind of an expert and realize that those could have been a fluke.
I definitely do not expect to be an expert or even good at trading in the first few months but these promotions seem to be fairly predicable in terms of whether or not a stock is going to move based on them..
As an example I'm learning which promoters to ignore and which ones generally tend to really make a stock move.. looking at how much float there is, what the company has been doing on the inside, what they're going to spend on a promotion and several other things
I thought I wanted to get into shorting pennies but it seems dumber and dumber the more I learn about it. Paying extra fees for this and for that, not being able to borrow most pennies and on and on and on. That is disappointing to say the least. It is a LOT easier to find a successful promotion after the fact and take advantage of it then IF you could find borrows. Sigh.